Vera Bradley
 | |
| Public | |
| Traded as | NASDAQ: VRA |
| Founded | 1982 |
| Founder | Patricia Miller and Barbara Bradley Baekgaard |
| Headquarters | Fort Wayne, Indiana, United States |
Number of locations |
156 (July 2016) 112 Full Line Stores + 44 Factory Stores |
Key people |
Robert Wallstrom (CEO) Kevin Sierks (CFO) Sue Fuller (Chief Merchandising Officer) Theresa Palermo (Chief Marketing Officer) |
| Products | handbags, luggage, fashion accessories |
| $31.8 million, or $0.82 per diluted share (before charges), for the fiscal year ended 1/30/16 | |
Number of employees | Approximately 950 as of March 2016 |
| Website | verabradley.com |
Vera Bradley is the name of an American luggage and handbag design company, founded by Barbara Bradley Baekgaard and Patricia Miller in 1982.[1] The Fort Wayne, Indiana company produces a variety of products, including handbags, luggage, and accessories. It is most recognized for its patterned bags.[2]
History
While traveling through the Atlanta, Georgia airport, neighbors Barbara Bradley Baekgaard and Patricia Miller noticed the fact that there were no feminine looking luggage styles.[3] They started the company with five hundred dollars, (each contributing $250).[4] The name comes from Baekgaard's mother, Vera, who was a stylish inspiration, formerly a model for Elizabeth Arden.[3] Net revenues from continuing operations totaled $502.6 million for the fiscal year ended January 30, 2016.
Miller and Baekgaard were awarded the 1987 Entrepreneur of the Year Award for the state of Indiana from Arthur Young/VENTURE Magazine.[5]
Products and Distribution
Vera Bradley bags come in several sizes and styles, and different patterns and colors. There are handbags, totes, travel duffels, backpacks, and diaper bags. The company has broadened its product assortment from quilted cotton bags to include solid microfiber, leather, faux leather, and several other fabrications.
Vera Bradley also offers rolling luggage, wallets, electronic device cases (for laptops, phones, and iPads), glasses/eyeglass/sunglass cases, cosmetic cases, wrist accessories, jewelry, jewelry cases, umbrellas, accessories, stationery, and gifts.
Vera Bradley offers a unique, multi-channel sales model as well as a focus on service and a high level of customer engagement. The Company distributes its products through Vera Bradley Full Line stores, Vera Bradley Factory Outlet stores, verabradley.com, its annual outlet sale (held in Fort Wayne), approximately 2600 specialty gift retailers, over 600 department stores (Dillard's, Macy's, Von Maur, Belk, and Bon Ton), key accounts (such as QVC and Disney), and third party e-commerce sites.
The Vera Bradley Foundation for Breast Cancer
The Vera Bradley Foundation supports Breast Cancer Research at the Vera Bradley Foundation for Breast Cancer Research Laboratories at the Indiana University Cancer Center. Its biggest fund-raising event is the annual Vera Bradley Classic Women's Golf and Tennis Tournament in Fort Wayne, Indiana. Through June 2016, the Foundation has donated a total of approximately $27 million to breast cancer research.
References
- ↑ "Secretary of State Registration". Retrieved 2014-01-27.
- ↑ Wellington, Elizabeth (August 23, 2007). "Vera Bradley bags: Blooming hot". The Philadelphia Inquirer. pp. E01.
- 1 2 Trebilcock, Bob. "Vera Bradley's multi-channel success". MMH Editorial. Modern Materials Handling. Retrieved 2014-01-27.
- ↑ "Patricia R. Miller & Barbara Bradley Baekgaard". Education and Resources. National Women's History Museum. Retrieved 2014-01-27.
- ↑ "Hazelett Forum 2009: Randall L. Tobias Center for Leadership Excellence". Trustees of Indiana University. Retrieved 26 March 2016.